Budget Busters: Saving Money While Raising Kids Quiz

Raising a family can be tight on the budget for most people. Take this quiz on some creative ways to save some money with your kids.

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Question 1 of 10

What child-related items can you write off on your taxes?

Child care costs

Child care costs will get you a tax credit. Unfortunately, clothes and diapers are on you.

Clothing costs

Diaper costs

Question 2 of 10

According to the U.S. Department of Agriculture, what's the average cost of raising a child from birth to age 18?

500000

222360

It costs an estimated $222,360 to raise a child born in 2009 from birth to 18. That last $60 is what they steal from your wallet on the way to college.

150125

Question 3 of 10

What's one way to save money with a new baby?

Baby formula

Breastfeeding

Breastfeeding not only saves money on store-bought formula, but kids that are breast fed are less likely to need medical care, saving even more money.

Disposable diapers

Question 4 of 10

What's one good way to save on clothing for your toddler?

Skimp on underwear

Buy large and let them grow into it

Hand-me-downs

Kids grow out of their clothes fast. Your friends with older kids are likely happy to get rid of some of those old clothes, so get as many hand-me-downs as you can to save some dough.

Question 5 of 10

What's one thing you should not buy used for your child?

Shoes

Car seats

Experts recommend that car seats should be purchased new because of the safety implications.

Toys

Question 6 of 10

Where's the best place to look for inexpensive clothing for your kids?

Online

Dumpster diving

Consignment stores

Quality consignment stores and garage sales are both great places to find inexpensive children's clothing.

Question 7 of 10

True or false: Daycare centers are more expensive on a monthly basis than a nanny.

TRUE

FALSE

Nannies are almost always more expensive than a daycare facility, because of the individual care you'll receive.

Question 8 of 10

What's one way to cut some costs with a nanny?

Share a nanny with another family.

Nanny sharing is a common way to ease the cost burden of hiring a nanny.

Use a nanny with limited qualifications.

All of the above

Question 9 of 10

What's a good way to save money on food costs?

Shop brand names.

Dumpster diving

Grow your own.

Clipping coupons and growing your own vegetables are both excellent ways to save money on grocery costs.

Question 10 of 10

What are some of the benefits of unstructured "free play" time for your kids?

Cope with stress better

Help problem solving skills

All of the above

Giving your kids some unstructured "free play" time helps them develop social skills, cope with stress and solve problems. Not only that, but it keeps you from having to supply them with an endless number of costly toys.